Date: July 2, 2009
Media Contact: Sarah Fuller
207.623.4177

Correct Building Products, LLC Signs Agreement with BMCA

Move Facilitated By Chapter 11 Decision

BIDDEFORD, Maine - Correct Building Products, LLC, the 10-year old composite decking company with a rich history of innovation in product quality and technical expertise, announced today that it has entered into an agreement to sell substantially all of its assets to a subsidiary of Building Materials Corporation of America (BMCA). The sale will add Correct’s assets to BMCA’s existing composite decking business. To effectuate the transaction, Correct filed a case under Chapter 11 of the U.S. bankruptcy code, and asked the court to quickly approve the sale.

Correct's co-founder Martin Grohman said, “Today we’re announcing the beginning of the next phase for Correct Building Products and a great solution for all of our customers, suppliers and employees. By combining the marketing power of BMCA and the quality of the CorrectDeck CX product, it will mean greater availability for the product and a better solution for the industry. With this alliance, we hope to bring growth in employment and manufacturing expenditures to the State of Maine.”

This proposed sale to BMCA and the associated bankruptcy filing have the support of significant creditors, customers and employees. In order to emerge a larger and stronger company, Correct is pursuing a sale under section 363 of the U.S. bankruptcy code. Correct has asked the court to approve a sale process that will allow other interested parties to conduct due diligence and submit higher bids to buy Correct.

Shipments and support of Correct's products, including CorrectDeck, CorrectDeck CX, Rapid Rail, CorrectDock and CorrectPorch will not be interrupted during this process. Consumers and builders who have questions about their products should please contact Correct Building Products at: 1-877-332-5877.